Lower oil prices impact the insurance industry

The Middle East commercial activities are closely linked to oil demand. The long and steady stabilization of low oil prices has caused investments and construction to dwindle down.
energy insurance

The GDP for energy-producing countries has been impacted by this slowdown. The harsher economic conditions are behind the lower ratings of several insurers in 2016. The number of degraded ratings has outpaced that of revalorization. Moreover, excess capacity and stiff competition have strained most vulnerable insurers and the new entrants into the markets.

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